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dkrause on DSKHT7XVN1PROD with $$_JOB132ENDNOTES FOR CHAPTER 11. World Bank, ‘‘Southwest Poverty Reduction Project’’ (Washington, DC: October2011) http://web.worldbank.org/WBSITE/EXTERNAL/COUNTRIES/EASTASIAPACIFICEXT/CHINAEXTN/0,,contentMDK:20680094∼pagePK:141137∼piPK:141127∼theSitePK:318950,00.html.2. Carl F. Minzner, ‘‘China’s Turn against the Law,’’ American Journal of ComparativeLaw (forthcoming 2011). http://papers.ssrn.com/sol3/papers.cfm?abstractlid=1767455.3. There was a substantial jump in U.S. exports to China in 2009. Top exportcategories that year included electrical machinery ($22.4 billion); agricultural products($17.5 billion); machinery ($11.2 billion); miscellaneous grains ($11 billion); andaircraft ($ 5.8 billion). Office of the United States Trade Representative, ‘‘China’’(Washington, DC: Office of China Affairs, 2010). http://www.ustr.gov/countriesregions/china.4. U.S. Census Bureau, ‘‘Balance by Partner Country—China,’’ (Washington,DC: U.S. Department of Commerce, 2011). http://www.census.gov/foreign-trade/balance/c5700.html#2011; Ministry of Commerce of the People’s Republic of China,‘‘Brief Statistics on China’s Import & Export in August 2011’’ (Beijing, China: 2011).http://english.mofcom.gov.cn/aarticle/statistic/BriefStatistics/201110/20111007785417.html.5. Peter Robertson, ‘‘In China’s Wake: Has Asia Gained From China’s Growth?’’(Perth, Australia: The University of Western Australia, Discussion Paper 10.15,June 2010); David Greenaway, ‘‘Has China Displaced Other Asian Countries’ Exports?’’(Nottingham, United Kingdom: University of Nottingham Leverhulme Centrefor Research in Globalisation and Economic Policy, July 2006).6. U.S. Census Bureau, ‘‘Advanced Technology Product Data—Imports and Exports—Countryby ATP [advanced technology product] Group’’ (Washington, DC:U.S. Department of Commerce, 2011). http://www.census.gov/foreign-trade/statistics/product/atp/select-ctryatp.html#2011.7. U.S. Bureau of the Census, U.S. Trade in Goods and Services (Washington,DC: U.S. Department of Commerce, August 15, 2011).8. Office of the United States Trade Representative, ‘‘2010 National TradeEstimate Report on Foreign Trade Barriers’’ (Washington, DC: 2009). http://www.ustr.gov/webfmlsend/2694.9. The American Chamber of Commerce in the People’s Republic of China,‘‘China Business Climate Survey’’ (Beijing, China: 2011), p. 16.10. European Chamber of Commerce in China, ‘‘Public Procurement inChina: European Business Experiences Competing for Public Contracts in China’’(Shanghai, China: September, 2010) http://www.europeanchamber.com.cn/images/documents/marketing l department/beijing/publications/2011/PP%20Study%20EN%20Final.pdf.11. US–China Business Council, ‘‘Provincial and Local Indigenous InnovationProduct Catalogues’’ (Washington, DC: July 2011). https://www.uschina.org/public/documents/2011/07/localliilcatalogues.pdf.12. Alicia Herrero, ‘‘China’s 5-year financial sector and the new 5-year plans,’’Asian Banking and Finance (June 1, 2011). http://asianbankingandfinance.net/blogsopinion/commentary/chinas-5-year-financial-sector-and-new-5-year-plans.13. DBS Group Research, ‘‘China: CNY capital account liberalization—recentdevelopments & implications’’ (Singapore, China: February 8, 2011). https://www.dbsvresearch.com/research/DBS/research.nsf/(vwAllDocs)/FA53A532665277C34825783100094D61/$FILE/cnl110208.pdf.14. Jack Barnes, ‘‘China’s Money Printing Addiction Could Spell Disaster,’’ BusinessInsider, January 11, 2011. http://www.businessinsider.com/china-worlds-fastestprinting-press-2011-1.15. Jeffrey Frankel, ‘‘On the Renminbi,’’ CESifo Forum 6:3 (Autumn 2005):16–21. http://www.hks.harvard.edu/fs/jfrankel/ChinaYuanpub05CES-Ifo.pdf.16. Ding Lu, ‘‘China’s capability to control its exchange rate,’’ China EconomicReview 15:3 (2004):343–347. http://www.sciencedirect.com/science/article/pii/S1043951X04000355.17. Yi Zhang, ‘‘Digging Out of the Foreign Exchange Reserves,’’ China Daily, August2, 2011. http://usa.chinadaily.com.cn/us/2011-08/02/contentl13032759.htm; ChineseState Administration of Foreign Exchange, ‘‘Monthly Foreign Exchange Reserves,2010’’ (Beijing, China: July 2010). http://www.safe.gov.cn/modellsafelen/tjsjlen/tjsjldetaillen.jsp?ID=30303000000000000,19&id=4.18. U.S. Department of the Treasury, ‘‘Major Foreign Holders of Treasury Securities’’(Washington, DC: September 16, 2011). http://www.treasury.gov/resourcecenter/data-chart-center/tic/Documents/mfh.txt.VerDate Nov 24 2008 13:46 Nov 10, 2011 Jkt 067464 PO 00000 Frm 00144 Fmt 6601 Sfmt 6621 G:\GSDD\USCC\2011\067464.XXX 067464
dkrause on DSKHT7XVN1PROD with $$_JOB13319. Keith Richburg, ‘‘China, with much to lose, largely silent on debt talks’’Washington Post, July 23, 2011. http://www.washingtonpost.com/world/asia-pacific/china-with-much-to-lose-largely-silent-on-debt-talks/2011/07/23/gIQArawHWIl print.html.20. Reuters, ‘‘U.S. debt still safest place for China reserves: top banker,’’ August16, 2011. http://ca.reuters.com/article/businessNews/idCATRE77F1GR20110816.21. Chris Oliver, ‘‘China lending, money supply growth cools,’’ MarketWatch,June 13, 2011. http://www.marketwatch.com/story/china-lending-money-supplygrowth-cools-2011-06-13;Bloomberg, ‘‘China New Loans, Money Supply GrowthRebound Even after Cooling Measures,’’ July 12, 2011. http://www.bloomberg.com/news/2011-07-12/china-new-loans-money-supply-growth-rebound-even-after-coolingmeasures.html.22. Xinyuan Wang, ‘‘Money supply may trigger inflation,’’ People’s Daily Online,October 19, 2010. http://english.peopledaily.com.cn/90001/90778/90862/7169746.html.23. Cullen Roche, ‘‘On the Myth of Exploding U.S. Money Supply,’’ SeekingAlpha, March 8, 2011. http://seekingalpha.com/article/256913-on-the-myth-ofexploding-u-s-money-supply;U.S. Department of the Treasury, U.S. Currency andCoin Outstanding and in Circulation (Washington, DC: March 2011). http://www.fms.treas.gov/bulletin/b2011l2uscc.doc.24. U.S–China Economic and Security Review Commission staff, e-mail exchangewith Derek Scissors, October 9, 2011.25. Business Insider, ‘‘People’s Bank of China Raises Reserve Requirement RatioBy 50bp [basis points],’’ March 12, 2011. http://www.businessinsider.com/people8217s-bank-of-china-raises-reserve-requirement-ratio-by-50bp-2011-5.26. Simon Rabinovitch, ‘‘China Moves to Curb Off-Balance Sheet Lending,’’ FinancialTimes, August 29, 2011. http://www.ft.com/intl/cms/s/0/376b6504-d21c-11e0-9137-00144 feab49a.html?ftcamp=rss#axzz1XKmbeigz.27. Wen Jiabao, ‘‘How China Plans to Reinforce the Global Recovery,’’ FinancialTimes, June 23, 2011. http://www.ft.com/cms/s/0/e3fe038a-9dc9-11e0-b30c-00144feabdc0.html.28. Francis Xiong, ‘‘China’s Inflation Eases Slightly, Pressure Remains Though,’’Xinhua, October 17, 2011, http://news.xinhuanet.com/english2010/china/2011-10/17/cl131194974.htm.29. Shai Oster, ‘‘China’s Rising Wages Propel U.S. Prices,’’ Wall Street Journal,May 9, 2011. http://online.wsj.com/article/SB10001424052748703849204576302972415758878.html.30. Elizabeth Economy, ‘‘China’s Growing Water Crisis,’’ World Politics Review,August 9, 2011. http://www.worldpoliticsreview.com/articles/9684/chinas-growingwater-crisis.31. Sheng Wen, ‘‘China hardens rein on home bubble, prices to come down,’’People’s Daily Online, August 19, 2011. http://english.peopledaily.com.cn/90778/7574020.html.32. Esther Fung, ‘‘Shanghai Slumps Amid Real-Estate Slowdown,’’ Wall StreetJournal, August 19, 2011. http://online.wsj.com/article/SB10001424053111903596904576515314278100504.html.33. Google Finance, ‘‘Claymore/AlphaShares China Real Est [estate] ETF [exchangetraded fund].’’ http://www.google.com/finance?q=TAO.34. Nigel Chalk, ‘‘Whack-A-Mole in China’s Bubbly Housing Market,’’ iMFdirect,August 9, 2011. http://blog-imfdirect.imf.org/2011/08/09/whack-a-mole-in-china%E2%80%%99s-bubbly-housing-market/.35. Deepanshu Bagchee, ‘‘China Risks Inflation Getting Out of Hand: Expert,’’CNBC, June 9, 2011. http://www.cnbc.com/id/43335366.36. Nouriel Roubini, ‘‘China’s Bad Growth Bet,’’ Project Syndicate, April 14,2011. http://www.project-syndicate.org/commentary/roubini37/English.37. Tom Orlik, ‘‘Whack-a-Mole: IMF [International Monetary Fund] NotImpressed With China Bubble Management,’’ Wall Street Journal, August 19,2011. http://blogs.wsj.com/economics/2011/08/19/whack-a-mole-imf-not-impressed-with-china-bubble-management/?mod=googlelnewslblog.38. Jean Yung, ‘‘China Yuan Up Late On PBOC (People’s Bank of China)Guidance; Likely Rangebound In Near Term,’’ Wall Street Journal, October 17,2011. http://online.wsj.com/article/SB10001424053111903918104576503764019812054.html.39. U.S. Department of the Treasury, ‘‘Report to Congress on International Economicand Exchange Rate Policies (Washington, DC: February 11, 2011)40. Xiaoyin Wang, Chunjie Qi , and Yuhong Li, ‘‘A Study on the Impact of RMBFluctuation in Exchange on Chinese Citrus Export,’’ Advances in InformationSciences and Service Sciences 3:3 (April 2011). http://www.aicit.org/aiss/ppl/Binder1-6.pdf.VerDate Nov 24 2008 13:46 Nov 10, 2011 Jkt 067464 PO 00000 Frm 00145 Fmt 6601 Sfmt 6621 G:\GSDD\USCC\2011\067464.XXX 067464
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12011REPORT TO CONGRESSof theU.S.-C
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U.S.-CHINA ECONOMIC AND SECURITY RE
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dkrause on DSKHT7XVN1PROD with $$_J
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CONTENTSPageTRANSMITTAL LETTER TO T
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23Figure 1:China’s Share of the U
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25The weakness in U.S. exports of a
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31Table 3:RMB Bond Issuances by Mul
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35of bilateral negotiations under t
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37Stonewalling the WTO: A Case Stud
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39that China’s existing system of
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41now. Because the structures of th
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43How Big Is China’s State Sector
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45Fortune Global 500, compared to j
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47panies are less profitable, after
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49erate primarily within state-cont
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57Figure 1: Chinese FDI Stock in th
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63U.S. firms with sensitive technol
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65Addendum I: SASAC Companies, Larg
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67Addendum I: SASAC Companies, Larg
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69dkrause on DSKHT7XVN1PROD with $$
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71January 2010, the heads of 19 U.S
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77cause Beijing had sought to exclu
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Page 97 and 98: 89Like previous plans, the 12th Fiv
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187Therefore, the PLA maintains the
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189Of import, the PLA’s geographi
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197ther moves toward independence,
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199trates the depth of China’s sp
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201Figure 2:Representation of Beido
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205ganization, modeled on the Europ
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207China’s leadership also places
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211[General Armaments Department] p
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213Table 2: Select Chinese Satellit
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215weapons or coorbital satellite w
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217Malicious Cyber ActivitiesDirect
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RECOMMENDATIONSChina’s ‘‘Area
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239320. Chang Xianqi, Military Astr
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243woman Jiang Yu simply expressed
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245Table 1:Timeline of Sino-North K
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249China also provides economic sup
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251economic and social strains woul
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255Iran’s South Pars Gas Field af
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257When asked by Commissioners abou
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281trade, and dispute settlement. 2
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287of Request to the United States
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289fense, since its current fleet o
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323mation Office. Day-to-day superv
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327Although the slogans change over
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335What Constitutes a ‘‘Core In
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339Selected CAIFC/CPD Track Two Exc
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341disseminated through diplomatic
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375ecutive Schedule under section 5
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APPENDIX IIIPUBLIC HEARINGS OF THE
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APPENDIX IIIALIST OF WITNESSES TEST
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393Alphabetical Listing of Panelist
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397In TaiwanU.S. Government• Amer
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APPENDIX VLIST OF RESEARCH MATERIAL
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401The National Security Implicatio
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APPENDIX VIACRONYMS AND ABBREVIATIO
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